PUBLIC ANNOUNCEMENT
Village of Fonda Receives Positive 2024 Ratings from New York State Comptroller
– Stability in Our Finances, Clarity on Our Community –
We’re pleased to share the results of the 2024 Fiscal Stress and Environmental Stress Monitoring Reports issued by the New York State Comptroller. These reports provide an objective snapshot of the Village government’s financial, environmental, and social conditions impacting our population.
💰 Fiscal Stress Score: 3.3 out of 100 – “No Designation”
What It Means:
New York State does not consider The Village of Fonda under fiscal stress. The score of 3.3 was due to a small, one-time gap in our 2024 budget—where expenses slightly outpaced revenues for the year.
✅ The Good News:
- Our fund balance and cash on hand remain strong.
- We issued no short-term debt and avoided borrowing to meet day-to-day expenses.
- We scored a perfect zero on all other financial risk indicators.
📊 Simple Explanation:
A low score is good! 3.3 out of 100 means we had a small budget shortfall last year—likely due to rising costs—while maintaining a healthy reserve. This shows we’re managing your tax dollars responsibly while keeping services running.
Why It Matters:
The small 3.3 score reflects our efforts to avoid overburdening taxpayers, even as inflation and material costs increased. As your Mayor, I pushed for modest, forward-thinking adjustments last year to avoid falling behind, and this report shows that those decisions kept the Village financially sound.
🌍 Environmental Stress Score: 10.0 out of 100 – “No Designation”
What It Means:
This report reflects broader community conditions—like population change, income levels, housing values, and dependence on public assistance. The Village received a score of 10.0, well below the stress threshold.
✅ The Good News:
- Unemployment is low (just 3.0%)
- Household incomes and home values have increased
- Public assistance rates are low, indicating a working, self-sufficient community
- Our dependence on state and federal aid is modest, meaning we are largely self-reliant
📉 The Challenge:
The only notable concern was a 9.11% population decline from 2018 to 2023. This isn’t a financial issue—it’s a community one.
Why It Matters:
This is precisely why the “Moving Fonda Forward” plan is so important and timely. We’re already acting on this—investing in housing, infrastructure, and economic revitalization to bring people and businesses back to our Village. Population decline doesn’t define us—but it does guide our mission to revitalize and grow.
🧭 Moving Forward Together
These reports show that Fonda is stable and resilient financially and socially. But they also show why we must keep moving forward: investing in people, managing costs, and planning ahead.
We remain committed to:
- Making smart financial decisions
- Keeping taxes stable and fair
- Building a strong, attractive community for the next generation
Thank you for continuing to support these efforts. Together, we’re building a better Fonda—one step at a time.
Sincerely,
Bill Peeler, Mayor
